MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Get Free Report) hit a new 52-week high on Friday after Piper Sandler raised their price target on the stock from $100.00 to $115.00. Piper Sandler currently has a neutral rating on the stock. MACOM Technology Solutions traded as high as $119.64 and last traded at $119.09, with a volume of 38041 shares changing hands. The stock had previously closed at $116.98.
Other equities analysts have also recently issued reports about the stock. Barclays raised their target price on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Needham & Company LLC upped their target price on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Finally, Benchmark restated a "buy" rating and issued a $120.00 price objective on shares of MACOM Technology Solutions in a research note on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, MACOM Technology Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $120.00.
Check Out Our Latest Report on MTSI
Insider Activity
In related news, CEO Stephen G. Daly sold 21,012 shares of MACOM Technology Solutions stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $109.40, for a total transaction of $2,298,712.80. Following the completion of the sale, the chief executive officer now directly owns 64,472 shares of the company's stock, valued at approximately $7,053,236.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Susan Ocampo sold 95,743 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $103.18, for a total transaction of $9,878,762.74. Following the transaction, the director now directly owns 6,876,284 shares of the company's stock, valued at approximately $709,494,983.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen G. Daly sold 21,012 shares of MACOM Technology Solutions stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $109.40, for a total transaction of $2,298,712.80. Following the completion of the sale, the chief executive officer now owns 64,472 shares of the company's stock, valued at approximately $7,053,236.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 654,861 shares of company stock valued at $69,430,533. 22.75% of the stock is owned by insiders.
Hedge Funds Weigh In On MACOM Technology Solutions
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of MACOM Technology Solutions by 8.1% in the first quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company's stock worth $592,395,000 after purchasing an additional 465,759 shares during the period. Price T Rowe Associates Inc. MD grew its stake in MACOM Technology Solutions by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company's stock worth $132,821,000 after buying an additional 154,066 shares in the last quarter. Millennium Management LLC increased its holdings in MACOM Technology Solutions by 958.1% in the 2nd quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company's stock valued at $149,214,000 after buying an additional 1,212,094 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MACOM Technology Solutions by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 993,316 shares of the semiconductor company's stock valued at $110,722,000 after buying an additional 69,689 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its holdings in shares of MACOM Technology Solutions by 280.5% during the 2nd quarter. Hood River Capital Management LLC now owns 704,834 shares of the semiconductor company's stock worth $78,568,000 after acquiring an additional 519,603 shares during the period. 76.14% of the stock is owned by institutional investors and hedge funds.
MACOM Technology Solutions Price Performance
The company's 50-day moving average is $107.66 and its 200-day moving average is $104.99. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 124.18, a price-to-earnings-growth ratio of 4.33 and a beta of 1.70. The company has a current ratio of 8.18, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45.
MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, meeting analysts' consensus estimates of $0.66. MACOM Technology Solutions had a return on equity of 12.59% and a net margin of 10.59%. The firm had revenue of $190.50 million for the quarter, compared to the consensus estimate of $190.42 million. During the same quarter last year, the business posted $0.42 EPS. The company's revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that MACOM Technology Solutions Holdings, Inc. will post 1.89 earnings per share for the current year.
About MACOM Technology Solutions
(
Get Free Report)
MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum in the United States, China, Australia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and internationally.
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